Skyworks Solutions (NASDAQ:SWKS) Posts Earnings Results

Skyworks Solutions (NASDAQ:SWKS) posted its quarterly earnings results on Wednesday. The semiconductor manufacturer reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.23, Briefing.com reports. Skyworks Solutions had a net margin of 9.88% and a return on equity of 11.77%. The company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.55 earnings per share.

Skyworks Solutions Stock Up 1.4%

Shares of SWKS traded up $1.04 during midday trading on Wednesday, reaching $73.03. The stock had a trading volume of 1,986,927 shares, compared to its average volume of 3,281,910. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.39 and a quick ratio of 1.80. The company’s fifty day simple moving average is $75.88 and its two-hundred day simple moving average is $72.84. The company has a market cap of $10.84 billion, a price-to-earnings ratio of 29.20 and a beta of 1.21. Skyworks Solutions has a 1-year low of $47.93 and a 1-year high of $95.46.

Skyworks Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Stockholders of record on Tuesday, November 18th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Tuesday, November 18th. Skyworks Solutions’s dividend payout ratio (DPR) is presently 88.75%.

Institutional Trading of Skyworks Solutions

Several hedge funds have recently made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in shares of Skyworks Solutions by 46.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 1,121 shares of the semiconductor manufacturer’s stock worth $84,000 after acquiring an additional 354 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Skyworks Solutions in the second quarter valued at about $32,000. MUFG Securities EMEA plc acquired a new stake in shares of Skyworks Solutions in the second quarter valued at about $33,000. Redwood Investment Management LLC lifted its stake in shares of Skyworks Solutions by 3.0% in the second quarter. Redwood Investment Management LLC now owns 25,771 shares of the semiconductor manufacturer’s stock valued at $1,920,000 after purchasing an additional 742 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Skyworks Solutions by 137.4% in the second quarter. EverSource Wealth Advisors LLC now owns 2,298 shares of the semiconductor manufacturer’s stock valued at $171,000 after purchasing an additional 1,330 shares during the period. Institutional investors and hedge funds own 85.43% of the company’s stock.

Analyst Upgrades and Downgrades

SWKS has been the subject of a number of research analyst reports. Mizuho raised their price target on shares of Skyworks Solutions from $60.00 to $65.00 and gave the stock an “underperform” rating in a report on Wednesday. Citigroup upgraded shares of Skyworks Solutions from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $66.00 to $105.00 in a research report on Wednesday, October 29th. Loop Capital boosted their target price on shares of Skyworks Solutions from $70.00 to $75.00 and gave the stock a “hold” rating in a research note on Thursday, October 16th. JPMorgan Chase & Co. boosted their target price on shares of Skyworks Solutions from $66.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Barclays raised shares of Skyworks Solutions from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $58.00 to $88.00 in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Skyworks Solutions presently has a consensus rating of “Hold” and an average price target of $84.22.

About Skyworks Solutions

Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, power over ethernet, power isolators, receivers, switches, synthesizers, timing devices, voltage controlled oscillators/synthesizers, and voltage regulators.